Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Oracle Corp (NYSE:ORCL) shares are trading higher Tuesday after the company reported fiscal second-quarter results that came in above analyst estimates.
Q2 Results: Oracle said fiscal second-quarter revenue increased 18% year-over-year to $12.3 billion, which beat average analyst estimates of $12.04 billion, according to Benzinga Pro. The company's acquisition of Cerner contributed $1.5 billion to total revenues.
Oracle reported quarterly earnings of $1.21 per share, which beat average estimates of $1.18 per share.
"Strong overall revenue growth was powered by our infrastructure and applications cloud businesses that grew 59% and 45% respectively, in constant currency. Fusion Cloud ERP grew 28% in constant currency, NetSuite Cloud ERP grew 29% in constant currency—each and every one of our strategic businesses delivered solid revenue growth in the quarter," said Safra Catz, CEO of Oracle.
Oracle's board also declared a quarterly cash dividend of 32 cents per share.
Following the company's quarterly results, Piper Sandler analyst Brent Bracelin maintained Oracle with a Neutral and raised the price target from $75 to $85.
See Also: Pinterest, Oracle And Some Other Big Stocks Moving Higher In Today's Pre-Market Session
ORCL Price Action: Oracle has a 52-week high of $104.36 and a 52-week low of $60.78.
The stock was up 2.77% at $83.53 Tuesday morning, according to Benzinga Pro.
Photo: Open Grid Scheduler from Flickr.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!